New Construction Townhome
For Sale
$335,000
3351 Kings River #35, Wyoming, MI 49418
Spacious 3-bedroom condo with modern features, ready for move-in.
Property Size1,854 SF
Price / SF$180.69
Days on Market400
Property Features for 3351 Kings River #35
General Information
Standard status
Active
Size
1,854 SF
Property subtype
Condominium
Amenities
Forced Air
Humidifier
Dishwasher
Microwave
Range/Oven
Refrigerator
Building Details
Building Size
1,854 SF
Year Built
2025
Stories
2
Listing Agency:
DeVos Realty LLC
(616) 889-8514
Listed By:
Janice M DeVos · License #17205
(616) 889-8514
Source:
Kw
Added: Jul 15, 2025
Changed: Aug 17
Last Checked: Aug 13 at 5:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DeVos Realty LLC
Investment Insights
Based on property information with market context.
This new construction townhome-style condominium, located in Wyoming, MI, offers 1,854 square feet of living space and is ready for immediate move-in. It features 3 bedrooms, 2.5 bathrooms, and an attached 2-stall garage. The kitchen includes quartz countertops, a tile backsplash, a center island, a pantry, and slate kitchen appliances. LVP floors are installed throughout the main level, complemented by modern fixtures. A sliding glass door in the dining room opens to a 10 x 10 deck. Additional features include an upper-level laundry room and a spacious storage room. The property is located within the Grandville School district and is near shopping and restaurants.
Key Highlights
- NEW Construction, Ready for Immediate Move‑In
- 1,854 sq ft Townhome with 3 Bedrooms, 2.5 Bathrooms
- Kitchen featuring Quartz Countertops, Tile Backsplash, and Slate Appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,558
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$351,160
$351.2K
Cap Rate 7%
$250,829
$250.8K
Cap Rate 9%
$195,089
$195.1K
Market Conditions
NOI Build-Up for 1,854 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.8K $18.24/SF
− Vacancy
−$1.9K −$1.02/SF
EGI
$31.9K $17.22/SF
− OpEx
−$14.4K −$7.75/SF
NOI
$17.6K $9.47/SF
Area
Kent County, MI
Vacancy
5.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$351,160
Cap Rate 7%
$250,829
Cap Rate 9%
$195,089
Alternative Uses
Best Use
Apartment 5plus
$250.8K
$219.5K – $292.6K
NOI $17,558 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.6K
$290.2K – $386.9K
NOI $23,212 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 49418, MI
30,520
Population
12,801
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,606
Density / Sq Mi
$83,485
Median Household Income
$48,260
Median Earnings
$1,218
Median Rent
$296,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Spacious 3-bedroom condo with modern features, ready for move-in.
Where is this apartment building located?
The property is located at 3351 Kings River #35 Wyoming, MI.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: NEW Construction, Ready for Immediate Move‑In; 1,854 sq ft Townhome with 3 Bedrooms, 2.5 Bathrooms; Kitchen featuring Quartz Countertops, Tile Backsplash, and Slate Appliances
